WATCH: Makeover for SA bank notes and coins

South African bank notes and coins have been given a makeover and will begin circulating with the old currency as of today (Thursday).

The SA Reserve Bank (SARB) unveiled the upgraded notes and coins on Wednesday.

“Banknotes and coin are regularly upgraded in line with international best practice to combat counterfeiting and to stay abreast with technological advancements. In general, banknotes are refreshed in intervals of 6 to 8 years and coin in intervals of 20 to 30 years,” said SARB.

“In South Africa, the current Mandela banknote series was issued in 2012 and a commemorative series of banknotes was issued in 2018. The current coin series was issued in 1989.”

The upgraded banknotes and fourth decimal coin series are said to have enhanced security ‘to protect the integrity of our currency and maintain public trust’.

The SARB said all previously issued circulation banknotes and coin can still be used as a means of trade together with the upgraded ones.

[WATCH] The South African Reserve Bank unveiled the country’s upgraded banknotes and coin and they will be in the market from today. The currency with new designs and enhanced security features can be used alongside the current money in circulation. The security upgrade is in… pic.twitter.com/SA5jsMngYA

— SA Reserve Bank (@SAReserveBank) May 4, 2023

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